Block Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
XYZ$85.58-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $941,828 | $(103,094) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 287,249 | 303,236 |
| Amortization of discounts and premiums and other non-cash adjustments | (824,219) | (357,116) |
| Non-cash lease expense | 55,480 | 114,067 |
| Share-based compensation | 955,845 | 944,514 |
| Loss on revaluation of equity investments | 470 | 16,838 |
| Bitcoin remeasurement | (168,576) | (83,928) |
| Transaction, loan, and consumer receivable losses | 549,603 | 485,005 |
| Change in deferred income taxes | 5,368 | (86,642) |
| Changes in operating assets and liabilities: | ||
| Settlements receivable | 1,577,463 | (1,518,471) |
| Purchases and originations of loans | (10,887,619) | (5,896,371) |
| Proceeds from payments and forgiveness of loans | 10,419,823 | 5,575,440 |
| Customers payable | (1,319,654) | 1,390,888 |
| Settlements payable | (8,139) | 53,005 |
| Other assets and liabilities | 108,628 | 61,513 |
| Net cash provided by operating activities | 1,693,550 | 898,884 |
| Cash flows from investing activities: | ||
| Purchases of marketable debt securities | (1,035,477) | (934,904) |
| Proceeds from maturities of marketable debt securities | 790,748 | 994,740 |
| Proceeds from sale of marketable debt securities | 436,912 | 39,450 |
| Payments for originations of consumer receivables | (20,197,450) | (16,401,673) |
| Proceeds from principal repayments and sales of consumer receivables | 21,142,547 | 16,814,089 |
| Purchases of property and equipment | (126,954) | (99,457) |
| Purchases of other investments | (37,218) | (7,277) |
| Net cash provided by investing activities | 973,108 | 404,968 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - Continued
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from financing activities: | ||
| Proceeds from issuance of senior notes | 2,000,000 | — |
| Payments of debt issuance costs from issuance of senior notes | (26,619) | — |
| Repayments of Paycheck Protection Program Liquidity Facility advances | — | (16,840) |
| Payments to redeem convertible notes | — | (461,761) |
| Proceeds from warehouse facilities borrowings | 406,359 | 564,588 |
| Repayments of warehouse facilities borrowings | (1,054,091) | (967,655) |
| Proceeds from the exercise of stock options and purchases under the employee stock purchase plan | 88,053 | 70,416 |
| Net increase in interest-bearing deposits | 73,687 | 57,243 |
| Repurchases of common stock | (987,179) | — |
| Other financing activities | (18,473) | (19,977) |
| Change in customer funds, restricted from use in the Company's operations | 763,355 | (266,587) |
| Net cash provided by (used in) financing activities | 1,245,092 | (1,040,573) |
| Effect of foreign exchange rate on cash and cash equivalents | 13,600 | (28,455) |
| Net increase in cash, cash equivalents, restricted cash, and customer funds | 3,925,350 | 234,824 |
| Cash, cash equivalents, restricted cash, and customer funds, beginning of the period | 9,009,087 | 8,435,906 |
| Cash, cash equivalents, restricted cash, and customer funds, end of the period | $12,934,437 | $8,670,730 |
| Reconciliation of cash, cash equivalents, restricted cash, and customer funds: | ||
| Cash and cash equivalents | $8,299,804 | $5,112,293 |
| Short-term restricted cash | 630,933 | 572,754 |
| Long-term restricted cash | 69,915 | 71,946 |
| Customer funds cash and cash equivalents | 3,933,785 | 2,913,737 |
| Total | $12,934,437 | $8,670,730 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.